Litecoin Fork Coming and other Crypto Updates
Well, we are seeing a slow but sure recovery of what the mainstream calls the latest "crash" in cryptocurrencies, which you already know what my stance is on that subject!
The main thing Id like to bring to light today in crypto currencies is the upcoming fork on Litecoin (LTC) called Litecoin Cash. Its not too surprising following in the footsteps of its big brother Bitcoin.
The fork is happening at block # 1,371,111 which should be coming up on about February 18/19th.
Now this fork is not supported by Charlie Lee and his development team over at Litecoin so there's many rumors whether or not this fork is a scam to try to steal private keys and gain free Litecoin ahead of the plans they have this year coming up.
Anyhow, assuming it's actually for real, anyone holding Litecoin on the day of the fork will be automatically receiving 10 coins to every 1 Litecoin in Litecoin cash. This means that whatever address contains Litecoin at that point will have x amount of Litecoin cash. The only way to claim those coins is to pair that address to the Litecoin cash wallet that will be out at that time.
Now this poses a security risk to your wallet address because in order to pair yours to theirs you have to give up your private key.
PLEASE USE A SECONDARY LITECOIN WALLET TO COLLECT THEM IF YOU ARE GOING TO.
Never type your private key anywhere that is for your regular wallets you use everyday.
The safe way to do this is to go download a standalone Litecoin wallet like their core wallet on litecoin.com and send your LTC to that, wait for the fork, remove your LTC from the wallet and then pair that wallet to theirs. This way, if there was an attempt to scam private keys and drain your ltc, your wallet you gave them is already empty with the Litecoin cash tokens attached to it.
Who knows how successful this fork will be, or what the opening value of Litecoin cash will be, or even how it will perform moving forward. This may be a chance for anyone holding Litecoin today to make some free cash off their launch though.
As always, do your own due diligence and research this before diving in and doing something you'll regret. Become familiar with the safe process if you want to participate. The crypto world is a very vulnerable and risky, but also very highly profitable space so education is key.
Anyhow, I hope you found this info interesting, and that maybe you can even stand to profit from the fork!
Cheers,
Chris
PS if you have any questions, comment below and I'll be sure to answer as many as possible!
I'm curious where the ltc cash will be priced, the total supply is quite high. good post so upvote
Thanks ya, it should be interesting when it happens, I personally believe that LTC is grossly undervalued at the moment with what's planned for it this year as well, so I wouldn't be surprised with an eventual 400-500$ price point for cash and a 2k plus rate on LTC
Thanks for the update on this, I have not looked into LTC before is it worth converting some BTC into it to be prepared to cash in on the fork?
#thealliance supports @sircork and his charitable work with @youarehope
I would say yes @c0ff33a, you stand to make free coins of the new type of you do, just be sure to do it safely if you decide to. I have about 4 LTC sitting in a Litecoin core wallet just waiting for the fork now
dude. stop. please fix these.
Already fixed!
Thanks. To your point I didn't click them, but yeah, let's not perpetuate myths that make the other dudes jealous :D
I'm quite amazed at how many comments I made today, prolific is the word. I honestly don't think anyone noticed the misspelling and it definitely went to you account when clicked on. All fixed now, and at least I now know to pay more attention to your charitable works and related accounts - so some good has come from my fun!
haha, its all good, but i woke up to 297 ginabot notifications and i was only asleep for 3 hours. So crawling yours and they just.kept.coming... haahahaha
😂 I didn't think about you getting notifications for every one - because it was misspelled - but I suppose as the embedded link went to your account it was pinging you from that! I was busy in those 3 hours wasn't I!
This is better than tv! Lmao
Thanks for this quite interesting I only have almos one Litecoin but the chance to get anything for in effect free is good to know about
Yes @tattoodjay just get anorher wallet, send it there and wait. Even a half a coin will get you 5 Litecoin Cash
Ok cool will look into getting Another wallet
I call it a "burner" wallet. One you just use for one time to collect something like this. You can also use them to collect from anywhere just to be extra safe
OK cool, I am still learning all this crypto side of things but will see if I can make on tonight
This post has received a 100.00 % upvote from @whatsup thanks to: @christheaudioguy.
I was excited about this news , but the moment I saw charlie is not supporting this made me skeptical. My litecoins are in an Indian exchange. I hope litecoin goes to the moon this year.
You know @shonyishere , when Bitcoin forked with bch, the Bitcoin team also was not supportive of it, but look at what's happening now! We damn near have a mass switchover about to take place because of its speed and fee differences
Sneaky Ninja Attack! You have been defended with a 4.78% vote... I was summoned by @christheaudioguy! I have done their bidding and now I will vanish...Whoosh
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly � Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by christheaudioguy from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.